Rhumbline Advisers Sells 9,501 Shares of Box, Inc. (NYSE:BOX)

Rhumbline Advisers reduced its position in shares of Box, Inc. (NYSE:BOX) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,688 shares of the software maker’s stock after selling 9,501 shares during the period. Rhumbline Advisers owned approximately 0.27% of BOX worth $12,251,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Congress Asset Management Co. bought a new stake in BOX during the third quarter valued at approximately $46,236,000. Charles Schwab Investment Management Inc. raised its position in shares of BOX by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after buying an additional 134,175 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of BOX during the 3rd quarter worth $4,314,000. Assenagon Asset Management S.A. grew its position in BOX by 34.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 343,875 shares of the software maker’s stock worth $10,866,000 after acquiring an additional 88,900 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in BOX in the third quarter worth $2,859,000. Institutional investors own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BOX. Citigroup lifted their price target on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America began coverage on BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target on the stock. William Blair reissued an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. StockNews.com downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley increased their price target on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.89.

BOX Trading Down 3.5 %

Shares of NYSE BOX opened at $33.48 on Monday. The firm has a fifty day simple moving average of $32.68 and a two-hundred day simple moving average of $32.36. The firm has a market capitalization of $4.81 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 4.42 and a beta of 0.88. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74.

Insider Buying and Selling

In other news, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.42, for a total value of $209,239.18. Following the completion of the transaction, the chief operating officer now owns 440,988 shares of the company’s stock, valued at approximately $15,178,806.96. This represents a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $34.32, for a total value of $446,160.00. Following the completion of the transaction, the chief financial officer now owns 1,453,684 shares of the company’s stock, valued at approximately $49,890,434.88. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,041 shares of company stock valued at $2,889,758 over the last three months. Corporate insiders own 4.10% of the company’s stock.

About BOX

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.